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Technology
Industrials & Manufacturing
April 27, 2026
Technology / SaaS

Scaling Direct-to-Device Connectivity: LEO Constraints, Spectrum Limits, and the Shift to Mass-Market IoT & Mobile

Analyzes direct-to-device satellite connectivity, highlighting niche use cases, spectrum constraints, low throughput economics, and dependence on telco partnerships for scaling.

60 Mins
Former Vice President
Singapore
Public
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Companies Discussed
Amazon (AMZN), Apple (AAPL), Ashok Leyland (ASHLF), AST SpaceMobile (ASTS), AT&T (T), Bharti Airtel (BHARTIARTL), EchoStar (SATS), Globalstar (GSAT), Google (GOOGL), Mahindra & Mahindra (MAHMF), Qualcomm (QCOM), Rakuten (RKUNY), Rogers (RCI), Samsung (SSNLF), SES (SESG), T-Mobile (TMUS), Telstra (TLS), Vodafone (VOD), Volvo (VLVLY)
Executive Summary
Topics Covered
Methodology
Free Preview — Executive Summary

This transcript examines direct-to-device (D2D) satellite connectivity, which remains an early-stage, complementary solution focused on SOS, messaging, and narrow IoT use cases rather than mainstream broadband. Technical constraints, including low throughput, limited spectrum, and high latency restrict scalability, while economics remain less efficient than terrestrial networks. Regulatory approval and spectrum coordination are key bottlenecks, shaping deployment timelines globally. Value is expected to concentrate in spectrum ownership, telco partnerships, and enterprise IoT applications, with limited near-term potential for mass consumer adoption.

Topics Covered
  • Technical feasibility of D2D connectivity on standard smartphones
  • Throughput, latency, and capacity limitations of satellite networks
  • Spectrum sharing challenges with terrestrial networks
  • Regulatory constraints and global market readiness for D2D
  • Telco vs satellite operator control over customer ownership
  • Revenue sharing and partnership dynamics between telcos and LEO players
  • Core use cases including SOS, messaging, and IoT applications
  • Pricing models and affordability in different markets
  • Comparison with aviation, maritime, and traditional satellite solutions
  • Network capacity constraints vs terrestrial infrastructure
  • Unit economics of LEO constellations vs mobile networks
  • Competitive landscape across Starlink, AST SpaceMobile, and others
  • Role of OEM partnerships in driving adoption
  • Key risks at scale including congestion, spectrum, and regulation
  • Investment outlook and value concentration across ecosystem layers
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Q: Can you walk us through the current GPU allocation framework at your organisation? How are you deciding between internal AI workloads and enterprise customer commitments? A: Sure. So the fundamental tension right now is that our internal AI teams — the ones building our own foundation models and inference services — are consuming GPUs at a rate that nobody anticipated even 18 months ago. We're talking about 3-4x the original projections. And that creates a real squeeze on what's available for enterprise customers. The allocation committee meets weekly now, which tells you everything. It used to be quarterly. We have a scoring matrix that weighs revenue potential, strategic importance, and internal capability gaps. But honestly, internal teams almost always win because the economics of our own AI services are so compelling compared to renting compute to enterprises...

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Expert Profile
Former Vice President at SES Satellites
Duration
60 Mins
Call Date
April 27, 2026
Geography
Singapore
Transcript Tier
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